The Census Bureau reports that married couples in America own 3.7 million
small businesses. The difficulty in businesses owned by spouses is that
when the marriage falls apart, the company may deteriorate as well. That
is why it is important to create an alternate business plan or to determine
how the company will be divided in the event of a divorce. Many couples
who marry will include a business division plan in their prenuptial agreement
as a precaution. Those that fail to do so may discover that their company
will be torn apart in a contentious divorce.
Some couples can raise and maintain a business in a sort of "co-parenting"
arrangement. Amicable couples often choose to raise their children together,
alternating time with the children and collaborating on important decisions
for the child's future. In a similar way, many couples may be able
to maintain a business relationship long after the divorce takes place.
National Public Radio (NPR) reports that many couples are starting to explore
the option of becoming "copreneurs" after divorce. This allows
them to separate their personal and professional lives and make sure that
their business stays intact despite grim emotional circumstances. There
are circumstances where a couple cannot sustain their business in the
face of a divorce and may have to sell.
Don't hesitate to contact a skilled Los Angeles divorce lawyer if you
and your spouse are currently working together on a co-owned business
but would like to get a divorce. A creative and innovative divorce lawyer
at Claery & Green can help you to explore all options, determine the
best division and effectively care for your business. Call the firm today
to get more information about how we can help you to preserve your company!